Print This List    Email to a Friend  

Reverse Mortgages The Three Types  
INFORMATIVE 

Tags: reverse mortgages, equity, home

"Reverse mortgages" allow older homeowners to convert part of the equity oin their homes into cash without having to sell their homes or take additional bills. You receive money from the lender and don't have to pay it back as long as you live in your own. Thes three basic types of reverse mortgage are:

	single-purpose reverse mortgages, which are offered by some state and local government agencies and nonprofit organizations;
	federally-insured reverse mortgages, which are known as Home Equity Conversion Mortgages (HECMs), and are backed by the U. S. Department of Housing and Urban Development (HUD); and
	proprietary reverse mortgages, which are private loans that are backed by the companies that develop them.

Lister: ListAfterList Wiki Contributors
Source: LAL Editor

Other lists of interest:

A, B, C, D: Types of Fires SCARY  (1)

What You Should Do If A Poisoning Occurs INFORMATIVE  (0)

Quick Facts About Household Poisons INFORMATIVE  (0)

Poison Prevention Tips For Adults – Chemicals and Household Products INFORMATIVE  (0)

Poison Prevention Tips For Adults – Medicine INFORMATIVE  (0)

Rate it:
Give your rating for this list. One is the lowest score, five is the highest.

1.  2.  3.  4.  5. 

Add a Comment: Add your comments about the list. Enter your comment in the box below.